In the equation, y = 4k, identify the dependent and independent variables
1 answer:
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Answer:
Part A)
About $3767.34.
Part B)
About $3692.47.
Step-by-step explanation:
Part A)
Recall that compound interest is given by the formula:
Where <em>A</em> is the final amount, <em>P</em> is the initial amount, <em>r</em> is the interest rate, <em>n</em> is the number of times compounded per year, and <em>t</em> is the number of years.
To obtain $4000 after two years, let <em>A</em> = 4000 and<em> t</em> = 2.
Because the account pays 3% interest compounded monthly, <em>r</em> = 0.03 and <em>n</em> = 12.
Substitute and solve for <em>P: </em>
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In concluion, about $3767.34 should be deposited.
Part B)
Recall the formula for continuous compound:
Where <em>e</em> is Euler's number.
Hence, let <em>A</em> = 4000, <em>r</em> = 0.04 and <em>t</em> = 2. Substitute and solve for <em>P: </em>
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In conclusion, about $3692.47 should be deposited.
Option d: Yes, Jacob is correct. The median amount he makes is $84.00 in a day.
Explanation:
It is given that Jacob's daily tips for week are $99, $78, $58, $91, $90, and $68.
We need to determine the median of how much money he makes in daily tips.
Thus, to determine the median, first let us arrange the tips in ascending order.
Ascending order: $58, $68, $78, $90, $91 and $99
Since, the group is an even number of terms, let us add the two middle terms and divide by 2.
Median =
Thus, the median is 84.
Hence, The median amount Jacob makes is $84.00 in a day.
Thus, Option d is the correct answer.